Oramed Pharmaceuticals Completes $5.6 Million Funding to Advance Clinical Trials

  Oramed Pharmaceuticals Completes $5.6 Million Funding to Advance Clinical
                                    Trials

PR Newswire

JERUSALEM, December 11, 2012

JERUSALEM, December 11, 2012 /PRNewswire/ --

Oramed Pharmaceuticals Inc. (OTCBB:ORMP) (http://www.oramed.com), a developer
of oral drug delivery systems, announced today that it has completed a capital
raise of $4,973,075, net of finder's fee, priced at $0.37 per unit. Each unit
includes one share of stock. Unit holders were also issued one warrant for
each two shares of stock purchased, at an exercise price of $0.50 per share
for five years. A total of 13,647,866 shares of common stock and 6,823,938
warrants were issued. The Company also issued 13,514 shares of common stock
and 6,757 common stock purchase warrant, and will also issue 152,939 shares of
common stock and 76,470 common stock purchase warrant as a finder's fee.

In addition, on October 30, 2012, the Company issued 2,390,057 shares of
common stock to D.N.A Biomedical Solutions Ltd., valued at such time at
approximately $628,630, for a warrant to purchase up to 21,637,611 ordinary
shares of D.N.A.

"The funds from this raise, which was done at a premium to our current and
recent trading price, will afford the Company the necessary capital as it
approaches Phase 2 trials on its oral insulin capsule in the U.S. We intend to
file an IND (Investigative New Drug) application for the trial with the FDA in
the upcoming weeks," commented Nadav Kidron, CEO of Oramed.

This press release shall not constitute an offer to sell or the solicitation
of an offer to buy securities. The securities offered and sold in the private
placement have not been registered under the Securities Act of 1933, as
amended (the "Securities Act"), or any state securities laws, and may not be
offered or sold in the United States absent registration, or an applicable
exemption from registration under the Securities Act and applicable state
securities laws.

About Oramed Pharmaceuticals

Oramed Pharmaceuticals is a technology pioneer in the field of oral delivery
solutions for drugs and vaccines currently delivered via
injection.Established in 2006, Oramed's technology is based on over 25 years
of research by top research scientists at Jerusalem's Hadassah Medical Center.
Oramed is seeking to revolutionize the treatment of diabetes through its
patented flagship product, an orally ingestible insulin capsule (ORMD-0801)
currently approaching FDA-approved Phase 2 clinical trials; and with its oral
exenatide capsule (ORMD-0901), currently approaching Phase 1b/2a trials, the
results of which are expected in Q1 2013. The Company's corporate and R&D
headquarters are based in Jerusalem.

TheCompany's fact sheet can be viewedhere.

For more information, the content of which is not part of this press release,
please visithttp://www.oramed.com.

Forward-looking statements: This press release contains forward-looking
statements. For example, we are using forward-looking statements when we
discuss the projected commencement dates for our upcoming clinical trials,
timeline for submission of the IND application, or when results are
anticipated. These forward-looking statements are based on the current
expectations of the management of Oramed only, and are subject to a number of
factors and uncertainties that could cause actual results to differ materially
from those described in the forward-looking statements, including the risks
and uncertainties related to the progress, timing, cost, and results of
clinical trials and product development programs; difficulties or delays in
obtaining regulatory approval or patent protection for our product candidates;
competition from other pharmaceutical or biotechnology companies; and our
ability to obtain additional funding required to conduct our research,
development and commercialization activities. In addition, the following
factors, among others, could cause actual results to differ materially from
those described in the forward-looking statements: changes in technology and
market requirements; delays or obstacles in launching our clinical trials;
changes in legislation; inability to timely develop and introduce new
technologies, products and applications; lack of validation of our technology
as we progress further and lack of acceptance of our methods by the scientific
community; inability to retain or attract key employees whose knowledge is
essential to the development of our products; unforeseen scientific
difficulties that may develop with our process; greater cost of final product
than anticipated; loss of market share and pressure on pricing resulting from
competition; laboratory results that do not translate to equally good results
in real settings; our patents may not be sufficient; and our products may harm
recipients, all of which could cause the actual results or performance of
Oramed to differ materially from those contemplated in such forward-looking
statements. Except as otherwise required by law, Oramed undertakes no
obligation to publicly release any revisions to these forward-looking
statements to reflect events or circumstances after the date hereof or to
reflect the occurrence of unanticipated events. For a more detailed
description of the risks and uncertainties affecting Oramed, reference is made
to Oramed's reports filed from time to time with the Securities and Exchange
Commission.

Company Contact:
Oramed Pharmaceuticals
Aviva Sherman
Cell: +972-54-792-4438
Office:+972-2-566-0001
Email: aviva@oramed.com

SOURCE Oramed Pharmaceuticals Inc.
 
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